Key Takeaways:
- ARK sold 176,004 Alibaba ADR shares worth $17.6 million on June 25
- The sale reverses a 245,342-share purchase made just three weeks earlier
- ARK bought $20.4 million of Cerebras Systems while trimming Roku and biotech positions
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ARK sells $17.6M Alibaba stake after buying three weeks earlier
Cathie Wood's ARK sold $17.6 million of Alibaba ADR shares Thursday, reversing a purchase made three weeks earlier.
The three ARK funds offloaded 176,004 Alibaba Group Holding Ltd. American depositary receipts, according to the firm's daily trading disclosure. The sale came after ARK bought 245,342 Alibaba shares on June 4.
The selling extended to Roku Inc., with 130,666 shares worth $17.8 million divested, continuing a recent trend of reducing its stake in the streaming platform. On the buying side, ARK added 111,989 shares of Cerebras Systems Inc. for $20.4 million, its largest purchase of the day. The firm also acquired 350,023 shares of Robinhood Markets Inc. valued at $3.4 million and 30,528 shares of Palantir Technologies Inc. worth $3.5 million.
In the biotech space, ARK bought 891,473 shares of Recursion Pharmaceuticals Inc. for $2.9 million and 49,594 shares of Tempus AI Inc. totaling $2.6 million. The firm trimmed other biotech holdings, selling 37,555 shares of Twist Bioscience Corp. for $3.4 million and 25,992 shares of Absci Corp. worth $2.6 million.
Alibaba's Hong Kong-listed stock fell 5.3% on Friday and has lost more than 25% this month, its worst monthly performance on record. The rapid reversal — buying in early June then selling three weeks later — suggests ARK is reducing exposure to Chinese tech after a brief period of accumulation.
The shift signals ARK's evolving view on China ADR risk. Investors will watch for further ARK trading disclosures to gauge whether the selling extends to other Chinese internet holdings.
This article is for informational purposes only and does not constitute investment advice.
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